BOE Haldane: We are reviewing negative rates

Bank of England's Haldane continues his testimony

• we are reviewing negative rates
• there is less room for monetary maneuver after crisis
• if there was a further negative shock to economy, need to think about further lowering of cost of borrowing
• there are some possible downsides of negative rates
• we could purchase other assets as well
• we have to be mindful of unintended consequences of very low rates
• risks of a low rates are worth taking to keep businesses afloat and workers in jobs
• as we recover from crisis we need to watch very carefully to ensure low rates don't encourage excessive risk taking